Terms & Conditions

Is An Affin Bank Housing Loan Right For Me?

Affin Bank Housing Loans come with a lock-in period of 5 years, which is among the longest among banks in Malaysia. You can expect an early settlement penalty equal to 5% of the outstanding loan amount if you repay your loan or refinance within the first 3 years and 3% for the subsequent 2 years. As such, Affin Bank home loans are most suited for homebuyers that do not expect to refinance or sell their property for at least 5 years.

Affin Bank offers an innovative home loan package - Home Solution Plus which provides offers a term loan or flexi loan option, depending on your other financial goals. For those looking for more cash flexibility, the Home Flexi Plus package is a combination of a home loan and overdraft financing.

For those borrowing less than RM200,000, Home Assist Plus is Affin Bank’s best package. It also participates in the My First Home Scheme, so if you are a first time home buyer that is looking to get a 100% margin-of-financing loan, you may apply with Affin Bank. The interest on all Affin Bank’s home loans are calculated on a daily rest basis.

Outside of the My First Home Scheme, Affin Bank can provide a margin of financing up to 95% - 90% financing and an extra 5% to finance your MRTA policy. To be eligible, you have to choose an MRTA policy from AXA Insurance. Applicants may borrow for a maximum loan period of 35 years (in accordance to the latest ruling by Bank Negara Malaysia) or up to age 75, whichever comes earlier.

Affin Bank Mortgage Packages

Affin Bank comes with 4 mortgage packages to suit various individual needs in the form of Home Solution Plus, Home Flexi Plus, Home Assist Plus and My First Home Scheme. The key features of each package are highlighted by us for your comparison:

Product

Key Features

Is this a flexi package?

Home Solution Plus

Save more with interest calculated on daily basis

Allows for payment in excess of instalment amount

For all properties valued at RM200,000 and above

Yes (term loan option available)

Home Flexi Plus

Save more with interest calculated on daily basis

Allows for payment in excess of instalment amount

Overdraft facility of up to 70% of loaned amount

No

Home Assist Plus

Save more with interest calculated on daily basis

Allows for payment in excess of instalment amount

Only for properties from RM100,000 to RM200,000

Yes, full flexi

My First Home Scheme

For first time home buyers only

Applicable by Malaysians aged 35 and below

For individuals with monthly income RM5,000 and below

No

Details of Affin Bank’s Flexi Home Loan Packages

Borrowers are allowed to make additional monthly home loan repayments through the flexi home packages to reduce the monthly interest charges that their home loan will incur. A borrower should consider the benefits together with the requirements, fees and conditions that come with these packages.

Home Solution Plus

Home Assist Plus

Flexi type

Full-Flexi

Full-Flexi

Is a linked bank account required?

Yes

Yes

Account Maintenance Fees

Yes

Yes

Redrawal Fees

RM25

RM25

Am I Eligible for an Affin Bank Housing Loan?

Regardless whether you are a Malaysian citizen or not, you are eligible for this mortgage if you are at least 18 years old and looking to get a property worth at least RM100,000. For Home Solution Plus, there is a minimum property value of RM200,000 and a minimum loan amount of RM100,000.

What Documents Will I Need to Prepare?

You will need to provide some supporting documents for your Affin Bank mortgage in order to allow the bank to process your home loan application. These documents are listed below:

Application Form

NRIC / Identity Card

Copy of Sales and Purchase or Booking Receipt or Letter of Offer from Developer

Sounds Great! How Should I Proceed?

Affin Bank home loan calculator can be used to calculate your monthly loan repayments to determine a suitable loan amount for your desired property value. Once you have identified the suitable amount, you can make a free enquiry through iMoney and our mortgage consultants will call you back. Home loan application with iMoney is totally free.

If you are not sure whether this home loan by Affin Bank is your best option, click here to compare other home loans in Malaysia.

If you are looking for other home loans, you may also consider

The home loan rate from AIA starts from 4.99%. It does not come with the option of a flexi loan package and there is a maximum of 90% margin of financing. There is a 5 year lock-in period for this home loan.

Bank Islam Home Loan provides a housing loan rate starting from Base Rate (BR) 3.90%. The option of a flexi loan package is not available and there is a maximum of 90% margin of financing. The lock-in period for this housing loan is 5 years.

At Maybank Home Loan, the mortgage rate starts from Base Rate (BR) 3.20%. It does come with the option of a flexi loan package and there is a maximum of 90% margin of financing. There is a 3 year lock-in period for this mortgage.